During a press conference last week, President Barack Obama launched the cycle with his comment that the "private sector is doing fine." Within two hours, the Republican National Convention released an attack ad using Obama's words against him.

Cycling through clip after clip of cable news pundits, all discussing the staying power of Obama's political misstep, Stewart shows how the gaffe turned into a news cycle, until Obama retracted the remarks just four hours later.

After Obama's retraction, what's left?

Stewart explains: "All that remains is the bloody gaffe carcass, to be picked over by our nation's most esteemed gaffe-stronomists."